Mortgage Underwriter
Watford
Role Summary:
The mortgage underwriter reviews loan applications, financial documents, and risk factors to make informed lending decisions, ensuring compliance with company policies, regulatory requirements, and industry standards.
Key Responsibilities
Loan Assessment: • Evaluate loan applications and accompanying documents (e.g., credit reports, income statements, tax returns). • Determine the borrower's creditworthiness, risk level, and ability to repay. Compliance and Risk Analysis: • Ensure loans comply with federal and state regulations, as well as lender guidelines (FHA, VA, USDA, or conventional loans). • Assess risks associated with loan approval and identify potential red flags. Decision Making: • Approve, decline, or request additional information/documentation. • Provide clear justifications for loan decisions and document findings. Communication: • Collaborate with loan officers, processors, and other stakeholders to resolve application issues. • Communicate decisions and conditions clearly to the appropriate teams. Documentation and Reporting: • Maintain accurate records of underwriting decisions. • Prepare detailed loan summaries and risk assessments for management review. Staying Updated: • Stay informed of updates to underwriting guidelines, compliance regulations, and market trends.
Key Skills & Qualifications •
Education:
Bachelor's degree in Finance, Accounting, Business, or a related field (or equivalent experience). •
Experience: • Previous experience in mortgage underwriting (2-5+ years preferred). • Familiarity with FHA, VA, USDA, and conventional loan guidelines. •
Technical Skills: • Proficiency with Loan Origination Systems (LOS) and Automated Underwriting Systems (AUS), such as DU/LP. • Advanced skills in Microsoft Office (Excel, Word) and financial analysis tools. •
Analytical Skills:
Ability to assess risk and make sound financial decisions. •
Detail-Oriented:
Strong attention to accuracy and compliance. •
Communication:
Excellent verbal and written communication skills to explain decisions. •
Certifications (optional but preferred): • Certified Residential Underwriter (CRU) • Direct Endorsement (DE) Certification for FHA loans
Key Performance Indicators (KPIs) • Turnaround Time: Average time taken to underwrite a loan. • Approval Rate: Ratio of approved loans to reviewed applications. • Accuracy: Percentage of loans compliant with company and regulatory guidelines. • Customer Satisfaction: Feedback from loan officers and borrowers. #J-18808-Ljbffr
Watford
Role Summary:
The mortgage underwriter reviews loan applications, financial documents, and risk factors to make informed lending decisions, ensuring compliance with company policies, regulatory requirements, and industry standards.
Key Responsibilities
Loan Assessment: • Evaluate loan applications and accompanying documents (e.g., credit reports, income statements, tax returns). • Determine the borrower's creditworthiness, risk level, and ability to repay. Compliance and Risk Analysis: • Ensure loans comply with federal and state regulations, as well as lender guidelines (FHA, VA, USDA, or conventional loans). • Assess risks associated with loan approval and identify potential red flags. Decision Making: • Approve, decline, or request additional information/documentation. • Provide clear justifications for loan decisions and document findings. Communication: • Collaborate with loan officers, processors, and other stakeholders to resolve application issues. • Communicate decisions and conditions clearly to the appropriate teams. Documentation and Reporting: • Maintain accurate records of underwriting decisions. • Prepare detailed loan summaries and risk assessments for management review. Staying Updated: • Stay informed of updates to underwriting guidelines, compliance regulations, and market trends.
Key Skills & Qualifications •
Education:
Bachelor's degree in Finance, Accounting, Business, or a related field (or equivalent experience). •
Experience: • Previous experience in mortgage underwriting (2-5+ years preferred). • Familiarity with FHA, VA, USDA, and conventional loan guidelines. •
Technical Skills: • Proficiency with Loan Origination Systems (LOS) and Automated Underwriting Systems (AUS), such as DU/LP. • Advanced skills in Microsoft Office (Excel, Word) and financial analysis tools. •
Analytical Skills:
Ability to assess risk and make sound financial decisions. •
Detail-Oriented:
Strong attention to accuracy and compliance. •
Communication:
Excellent verbal and written communication skills to explain decisions. •
Certifications (optional but preferred): • Certified Residential Underwriter (CRU) • Direct Endorsement (DE) Certification for FHA loans
Key Performance Indicators (KPIs) • Turnaround Time: Average time taken to underwrite a loan. • Approval Rate: Ratio of approved loans to reviewed applications. • Accuracy: Percentage of loans compliant with company and regulatory guidelines. • Customer Satisfaction: Feedback from loan officers and borrowers. #J-18808-Ljbffr
